Massive Token Unlocks Set for August
In August, nearly $1.5 billion worth of tokens from prominent crypto projects will be unlocked.
A major portion is the 1 billion XRP tokens, valued at $609 million, set for release on August 1.
Ripple, which manages the XRP Ledger and its XRP tokens, has consistently unlocked up to 1 billion XRP each month since 2017. Ripple typically re-locks a significant portion of these tokens; for instance, it re-locked 800 million XRP from the June release but sold about 300 million XRP, valued at $182 million, according to TradingView.
Beyond XRP, August will see substantial token unlocks from other major projects:
- Wormhole will release 33.3% of its supply, totaling 600 million tokens worth $180.5 million, on August 3.
- Avalanche will unlock 2.4% of its AVAX supply, equating to 9.4 million tokens valued at $268 million, on August 20.
Other significant releases on August 1 include:
- Sui: 64 million SUI tokens (2.56% of supply) worth $50 million.
- dYdX: 8.33 million DYDX tokens (~$11 million) for investors, founders, and staff.
- ZetaChain: Nearly 18.9% of its supply, or 53.9 million tokens, valued around $34.5 million.
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Additional notable unlocks:
- ImmutableX: 32.5 million IMX tokens (2.11% of supply) on August 9, valued at $49 million.
- Aptos: $80 million worth of APT tokens on August 12.
- The Sandbox: $69 million worth of SAND tokens on August 14.
- Starknet: 64 million STARK tokens (4.4% of supply) on August 15, worth $35 million.
- Arbitrum: 92.6 million ARB tokens (2.8% of supply) on August 16, valued at $67 million.
These unlocks are set to impact the market significantly, with large volumes of tokens entering circulation.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
